Treasuries Zig, Then Zag On Strong Home-Sales Data

By Michael Aneiro

Treasuries were looking stronger to start the day but then undid early gains after the Commerce Department reported that new home sales surged in January. The net result is that the 10-year note is now up 1/32 in price on the day to yield 2.696%, and the 30-year bond is up 5/32 to yield 3.652%, per Tradeweb data.

Later today the Treasury will conduct its second-ever auction of two-year floating-rate Treasuries, and will also sell five-year fixed-rate notes.

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